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Question 4 (of 9) 4. 10.00 points The following is a partial trial balance for General Lighting Corporation as of December 31, 2016: Account Tte Sales revenue 3,350,000 Interest revenue 100,000 Loss on sale of investments 32,500 Cost of goods sold 1,390,000 Loss from write-down of inventory due to obsolescence 500,000 General and administrative expenses 250,000 Interest expense recorded. The common stock were outstanding throughout 2016. Income tax expense has not yet been income tax rate is 40%. 1. Prepare a single-step income statement for 2016, including EPs discosures. (Amounts to be deducted should be indicated with a minus sign. Round EPS answers to 2 decimal places.) GENERAL LIGHTING CORPORATION Statement For the Year Ended December 31 2016 Revenues and gains Total revenues and gains Expenses and losses Cost of goods sold